⚡️*Hush money trial... and your crypto wallet💰*
Whether you love him or hate him... Donald Trump will impact the assets you love. Whether you're into the og $BTC or the potent new comers like $XRP or ADA. If you're into memecoins this matters a lot. We've seen how even the smallest updates from Trump or Musk makes the assets like $DOGE go vilatile.
Recently Trump is facing the "hush money" trial. It will definitely play a role in the market. But I believe the effect of the trial will be short lived.
First let's see what his policies mean for the crypto market
• Trump proposed creating a national Bitcoin reserve (YES), holding all US govt BTC This could legitimize Bitcoin further, potentially driving its value up as it gains a status similar to a national asset.
• Trump's promised to remove the current SEC Chairman, Gary Gensler. He was known for his tough stance on crypto, and Trump promised to replace him with someone more crypto-friendly. This is major. I don’t have to explain how useful this is right??
• Trump's aim to make the US the global hub for cryptocurrency businesses suggests a *pro crypto policy landscape, potentially boosting investment in (and adoption of) crypto assets.
• His policy to encourage domestic Bitcoin mining will increase the America’s influence over the Bitcoin network. It will stabilize or increase Bitcoin's price by ensuring more mining power within the US.
• There's been talk (not actually a policy) about Trump's intention to remove capital gains tax on cryptocurrencies produced in the US.
But the trial had effects...
• Betting on verdict pumps crypto action
• Verdict could shake up crypto prices
• Political drama might scare or attract investors
• Big news for now, but crypto's future? Meh... not much
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